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Federal Reserve Chairman Ben Bernanke painted an upbeat picture on Saturday for the potential of innovation to lift living standards.
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CNBC's Eamon Javers takes a look at how "fiscal cliff" comments from Washington have been driving the markets.
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NEW YORK, Nov 30- Wall Street opened flat on Friday, amid caution ahead of a statement from President Obama on the progress of budget talks in Washington that have fueled volatility and nervousness in the financial markets. The Dow Jones industrial average gained 5.45 points, or 0.04 percent, to 13,027.27.
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NEW YORK, Nov 30- Wall Street opened flat on Friday, amid caution ahead of a statement from President Obama on the progress of budget talks in Washington that have fueled volatility and nervousness in the financial markets. The Dow Jones industrial average gained 5.45 points, or 0.04 percent, to 13,027.27.
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*Israel tries to minimise loss, faces tough decisions. JERUSALEM, Nov 30- The margin of Israel's defeat in a U.N. vote that granted de-facto statehood to Palestine has disappointed Israeli political leaders, whose attempts on Friday to play down the loss could not disguise its significance.
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WASHINGTON, Nov 30- U.S. consumer spending fell in October for the first time in five months as superstorm Sandy choked off car sales, suggesting slower economic growth in the fourth quarter. The Commerce Department said on Friday consumer spending fell 0.2 percent after a 0.8 percent increase in September.
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*Zynga shares plunge after revising deal with Facebook. "So far, all the back-and-forth and shared smiles at the White House podium during recent press conferences that promise us a meaningful and workable framework, thus far we have nothing," said Andrew Wilkinson, chief economic strategist, at Miller Tabak& Co in New York.
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WASHINGTON, Nov 30- U.S. consumer spending fell in October for the first time in five months as income growth stalled, suggesting slower economic growth in the fourth quarter. The Commerce Department said on Friday consumer spending fell 0.2 percent after an unrevised 0.8 percent rise in September.
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WASHINGTON, Nov 30- U.S. consumer spending fell in October for the first time in five months as income growth stalled, suggesting slower economic growth in the fourth quarter. The Commerce Department said on Friday consumer spending fell 0.2 percent after an unrevised 0.8 percent rise in September.
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*Whole Foods Market announces special cash dividend. Trading has been choppy lately, as investors buy on sporadic dips in the market and react to mixed headlines out of Washington regarding progress in talks on averting the "fiscal cliff," spending cuts and tax hikes that will come into effect in the new year.
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*India Q3 GDP slightly below forecast, China data eyed. LONDON, Nov 30- Concern about the stalemate in crucial U.S. budget talks slowed gains in world equity markets on Friday, while the euro neared a one-month high on better demand for European peripheral debt.
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*Whole Foods Market announces special cash dividend. *Whole Foods Market Inc announced a special cash dividend of $2.00 per share. *After a close relationship for several years, Facebook Inc and Zynga Inc revised terms of a partnership agreement between the companies; under the new pact, Zynga will have limited ability to promote its site on Facebook.
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*Obama to visit factory in Pennsylvania. WASHINGTON, Nov 30- President Barack Obama, reapplying his re-election campaign theme of protecting the middle class, heads to Pennsylvania on Friday suggesting that Republicans could spoil Christmas by driving the country over the "fiscal cliff."
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WASHINGTON, Nov 30- Divisions among Democrats are undermining President Barack Obama's push to raise the U.S. estate tax on inherited wealth, just weeks before the arrival of the "fiscal cliff" could drive the present estate tax rate even higher than Obama proposes.
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LONDON, Nov 30- Gold edged up on Friday, on course to squeeze out a gain for November, but progress was capped as the market took its cue from hesitant sentiment in stock markets on mixed signals around talks to avoid a U.S. budget crisis.
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*India Q3 GDP slightly below forecast, China data eyed. Markets are on edge over the lack of progress in talks to close the budget gap in Washington, where a deal is needed by year-end or automatic spending cuts and tax rises will be triggered that would tip the U.S. economy into a recession.
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LONDON, Nov 30- The yen hit a seven-month low against the euro and fell against the dollar on Friday on reported month-end selling by Japanese firms and speculation monetary policy could be aggressively eased.
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*India Q3 GDP slightly below forecast, China data eyed. "The market is subject to mood swings by investors who pay close attention to small developments in the U.S. budget talks," said Takuya Takahashi, an analyst at Daiwa Securities.
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While gold has recovered from a 1-1/ 2- week low of $1,705.64 an ounce hit on Wednesday, it has been unable to break a strong resistance at $1,730 an ounce in a market roiled by conflicting comments from Washington about the U.S. budget negotiations.
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WASHINGTON, Nov 30- Divisions among Democrats are undermining President Barack Obama's push to raise the U.S. estate tax on inherited wealth, just weeks before the arrival of the "fiscal cliff" could drive the present estate tax rate even higher than Obama proposes.
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*Aims to close Turkey- Iran' gold for gas' loophole. WASHINGTON, Nov 30- The U.S. Senate on Friday resoundingly approved new sanctions on trade with Iran's energy, port, shipping and ship-building sectors, its latest effort to ratchet up economic pressure on Tehran over its nuclear program.